Imagine if your dog were to bite a neighbor's child. Or a fire in your condo spread to other units. What would happen if you or a family member missed a stop sign and struck and killed a pedestrian? If any of these things happened to you, there's a good chance your current liability limits wouldn't be adequate to protect your assets—or your future earnings.

While many people consider an umbrella policy to be over and beyond what’s needed, as an independent agent you know the majority of your customers will find an umbrella policy valuable.

How an umbrella policy works

An umbrella policy provides an additional layer of liability protection that can be used with any type of policy, including boat, motorcycle, all-terrain vehicle and snowmobile. It kicks in when the underlying or primary policy doesn't provide sufficient liability protection.

A $1 million Umbrella policy, in most cases, is less than $200 for an annual policy.

Who could benefit from an umbrella policy?

Customers who:

Drive a car or let someone else use their car

Host dinner parties or other gatherings

Participate in carpools or other group activities

Own a home, rental properties or multiple residences

Have young drivers in their household

What instances use an umbrella policy?

Nearly 85% of claims payments on umbrella claims are related to auto accidents, and over the past 12 months, 30% of those claims involved a pedestrian, motorcycle or bicycle. Below are a few examples of recent claims, all of which required a payout of more than $1 million. That’s much higher than any auto policy limits.

Customer hit the gas instead of the brake by mistake and ran through the front of a restaurant, seriously injuring several people.

Customer didn't see a motorcycle and pulled out, causing the motorcyclist to hit the side of the customer’s car.

Customer’s car went off the road. The driver overcorrected, causing the vehicle to roll multiple times.

Customer’s son was allegedly driving under the influence and hit a bicyclist.

Customer accidentally set a fire in his apartment which spread to other units.

Customers can select from $1 million to $5 million in additional liability coverage.

If you need some help deciding on if an Indiana Umbrella Insurance policy is best for you, give TCU Insurance a call at 574-256-6070. Our trusted agents will help you evaluate your insurance policies, budget and possessions to determine what protects you best.

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